VIX futures trading volume up 72 per cent year-on-year

By Emily.Perryman

Created 04/11/2013 - 10:51

October trading volume in VIX futures totalled 4.19 million contracts, a 72 per cent increase from October 2012 and a 42 per cent increase from the previous month, according to figures released by the CBOE Futures Exchange.

October was the second most-active month all-time for VIX futures trading, trailing only the 4.21 million total contracts traded in June 2013. Average daily volume in VIX futures during October was 182,257 contracts, a 57 per cent increase from October 2012 and a 23 per cent increase from September.

October exchange-wide trading volume at CFE totalled 4.21 million contracts, a 72 per cent increase from October 2012 and a 41 per cent increase from September. Monthly ADV during October was 182,856 contracts, a 57 per cent increase from a year ago and a 23 per cent increase from September.

CFE launched Phase I of the expansion of extended trading hours (ETH) for VIX futures on October 28. Phase I added a 45-minute trading period, from 3:30 p.m. to 4:15 p.m. Chicago time, after the current close of trading hours for VIX futures at 3:15 pm CT. This 45-minute period was designed to respond to demand from both US and European customers for a post-settlement trading period. For the first four days, volume in that ETH period totalled 3,577 contracts.

Phase II of the expansion of extended trading hours for VIX futures will launch on 4 November when trading will begin five hours earlier than the current opening time of 7:00 a.m. CT. The new 2:00 am CT opening time will benefit US customers who are seeking longer hours for trading in VIX futures and European-based customers who will now have the opportunity to trade VIX futures during their local trading hours.